Under process of bidding for a new Bank of England note contract, De La Rue (DLAR.L) has been named as the BoEs preferred bidder. Currently De La Rue already prints notes for the Bank of England under a contract awarded in 2003 and due to expire next year.
The new contract is set to last 10 years although is reported to be worth less than the current contract. It will include the printing of the new wipe clean £5 and £10 notes announced by the bank last november, a move which has already seen De La rue lose out in the contract bidding to rivals Innovia to provide the paper used for these new notes.
Philip Rogerson, Chairman of De La Rue said in a statement “We are delighted that De La rue has been selected as the preferred bidder for this prestigious and very important contract with the Bank of England”.
Analysts at Investec seem excited by the news, and commented that re-securing this printing contract should ease concerns which have pressured the share price recently.
Under process of bidding for a new Bank of England note contract, De La Rue (DLAR.L) has been named as the BoEs preferred bidder. Currently De La Rue already prints notes for the Bank of England under a contract awarded in 2003 and due to expire next year.
The new contract is set to last 10 years although is reported to be worth less than the current contract. It will include the printing of the new wipe clean £5 and £10 notes announced by the bank last november, a move which has already seen De La rue lose out in the contract bidding to rivals Innovia to provide the paper used for these new notes.
Philip Rogerson, Chairman of De La Rue said in a statement “We are delighted that De La rue has been selected as the preferred bidder for this prestigious and very important contract with the Bank of England”.
Analysts at Investec seem excited by the news, and commented that re-securing this printing contract should ease concerns which have pressured the share price recently.